JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by Westpac Banking Corp

Westpac Banking Corp decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 88.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,385 shares of the financial services provider’s stock after selling 306,514 shares during the quarter. Westpac Banking Corp’s holdings in JPMorgan Chase & Co. were worth $5,583,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordwand Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth $30,000. Sageworth Trust Co lifted its holdings in JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 296 shares during the last quarter. Robbins Farley lifted its holdings in JPMorgan Chase & Co. by 54.2% during the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 167 shares during the last quarter. Miller Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $67,000. Finally, Guardian Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research analyst reports. Atlantic Securities boosted their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, October 5th. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Finally, Jefferies Financial Group cut their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.80.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.9 %

JPM stock opened at $152.82 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90. The company’s 50-day simple moving average is $145.05 and its 200 day simple moving average is $145.20. JPMorgan Chase & Co. has a 52 week low of $123.11 and a 52 week high of $159.38. The company has a market capitalization of $441.80 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.38. The firm had revenue of $40.69 billion for the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.12 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.75%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.07%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.